qbteachmt
Level 15
03-08-2020
12:02 PM
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"Cash is the most common type of boot. Essentially, any cash that you receive during the 1031 exchange process is considered boot. You then need to pay capital gains taxes on that cash boot, which is exactly what you want to avoid in a 1031 exchange of real estate. Your exchange won’t necessarily fail if you receive cash boot, it just won’t be a completely tax-deferred exchange."
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.